Submitted by: Sean Horton

When looking to take out a commercial mortgage it can be hard to find the information needed to find the best deal. If you know very little about commercial finance then consider checking out a commercial mortgage broker. By doing so you can get the cheapest deal with the best rate in a lot less time than it would take to find them yourself. A specialist website will always point you in the right direction.

There are many advantages to getting advice from mortgage brokers. Unfortunately around 80% of those wishing to borrow give no thought to a broker but rather take the loan from the high street bank which means they could lose out as they haven t reviewed the market place to see what deals are on offer. One of the biggest advantages that the individual has when using commercial mortgage brokers is the amount of time that is saved. As they specialize in finding the cheapest and best deals on commercial mortgages they automatically know where to begin searching.

Lenders will get back to mortgage brokers in as short a time as possible. This is because they realize that a broker has a short turn around time and this means less waiting for you. They also do not want to lose the business which a broker will bring to the lender on a steady basis which again is to your advantage.

As presentation plays a big part when taking out commercial lending, a broker will have more experience when it comes to putting everything together. This makes it easier for the lender and smoothes over the experience as the broker will see the whole process over from beginning to end.

Of course you will be looking for a cheap rate on the amount you are borrowing and a specialist will know exactly which lender offers the cheapest rates for the particular mortgage you want. They will also know what the technical terms of the loan mean and will look for hidden costs which could boost up the cost of the mortgage. Of course it will cost you to use a broker. When you take into account the fact that they will be able to negotiate and get the cheapest possible deal this will usually outweigh the cost of the broker s fees.

These are just some of the main advantages you can receive by putting your mortgage into the hands of a commercial mortgage broker. Do not be tempted to take out commercial borrowing on your own. There is no shame in admitting that you need help and advice and when it comes to something as important as saving money and it can be a lot, so pride should be put aside. Start off by going to a specialist website and getting as much information on all aspects of commercial finance before making a choice and signing on the bottom line. Never be tempted to go no further than the high street lender because the majority of time you can get a cheaper and better deal through a broker. With any mortgage offered there comes terms and conditions and it is important that you read these thoroughly to make sure you fully understand what you are taking on.

About the Author: Sean Horton is a Director of Enhanced Wealth, a

commercial mortgage broker

and IFA specializing in mortgage advice and the associated areas of income protection, mortgage protection, and mortgage life cover.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=221491&ca=Finances

Submitted by: David S. Stratton

Ahead of seeking for money to finance a small business, it is necessary to know what a small business is all about. The meaning of this will depend on the location or sphere of operation of the small business. In most cases, the number of personnel that the business has is what will be used to draw a line between a small business and a big one. For example, a small business will employ not more than a hundred personal in the United States and not more than fifty in Europe.

There are so many reasons why as a small business owner, you will request for more finance. You may want to build up the business, make some important acquisition for the business or even redeem your debts. There are so many options to finance this type of business but the most preferable source should be through the use of loans from banks. Access to loans will be easily obtained by those businesses which have a good reputation in the market than those small or new ones just getting into the market.

You will first of all have to make an application to the bank and the application will include the following:

A brief record of the activities of the business and any information showing its probable expansion;

Who the owners are and their position in the business;

Guarantee for the loan;

The business s present financial status;

A statement of how the loan will be repaid;

Why Is A Brief Record Of The Business Needed?

This is always needed by the banker to make sure that the bank is not only aware of where it is putting its money into, but it is also sure that it is lending to a business which has potentials of growth. Remember that it is always necessary to take reasonable steps to make sure that the loan will be repaid when it is due.

The business must also prove some experience in handling finances. This will be related to the expertise that the owners or personnel of the business have. Keep in mind that there must always be an indication that the loan will be administered in the most appropriate manner.

The application must have a guarantee:

There is no way in which a loan will be provided to a business which does not have security to cover the loan. Remember that the bank will need something to keep hold of in the event of any failure to repay the loan. Security for the loan may take various forms, but the banks are more interested in security which consists of fixed assets.

A statement of how the loan will be repaid should be included:

Every lender will want to know how you plan to pay pack the loan. Make sure you provide evidence of this. You can use your earnings or even personal finance to prove this. In some cases, a refinancing option may also be used. The most probable should be that the earnings from the business should be able to take charge of the loan.

You must always know that the probability of you getting a loan will not be the same for every lender. But if you have all the essentials in getting a loan, you should be sure that it will be given to you.

About the Author: Discover more about

creative business financing

as well as tips in getting the

federal financing for small businesses

when you visit

365capital.com

, the premier portal on small business startup financing.

Source:

isnare.com

Permanent Link:

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